Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1887-05-25
ITS RAILROADS.
THE TARRANT COUNTY CoNsTRUC-
TON COMPANY.
How the Efforts of Few Bold, Fearless
Men Affected the History of
Fort Worth.

Perhaps the most important organiza-
ton that ever originated among the bust
ness men OF Fort Worth was what was
known as The Tarrant County Con-
struCtion Company, and the members OF
that organization (most of whom are still
living and wealthy citizens Of the place.
have just cause to look back to its strug-
giles and success with much pride. The
history of this company and its eff
fective work was given in THE GAZETTE
of July Is, 1886, and it can appropriately
be repeated here:
"The pioneers Of all countries are gen
orally fearless, bold men in business Gf-
fairs as well as personal conduct, and
when the year 1875 sounded it's first notes
in the march of time Fort Worth was an
interior town and perhaps few of its in
habitants dreamed Of the mighty develop
ments in store for it, For several years
the more enterprising Of the citizens had
been hoping and planning to get the Texas
and Pacific Railroad extended from
| Dallas, ard atterward Eagle Ford, which
was then its extreme western terminus,
| to this place. and finally the idea of q
/
gested. meeting Of the leading citizens
wes held and 3 charter from the state
was obtained October 16, 1875. On the
26,h day of October, 1875, d meeting of
the stockholders WIS held and the COM
pany organized at the courthouse in this
| city. The following are the names of the
/ directors at the time: Sam Evans, X. NJ.
VanZandt, E. M. Daggett, j. 2. Smith,
John Hirshtield, W. j. BoaZ, j. Q. San
didge, w. a. Huffman, Zane Cetti.
! con October 81, Of the same year, the
following officers were elected at & meet
ing held in the courthouse as follows:
| X. VI. VsnZandt, president.
John HiTshfeld, viCe-president.
w. A. Huffman, treasurer.
Zane Cetti, secretary.
"The Tarrant County Construction
Company concluded contract near the
close of the year 1875 for the extension
Of the Texas and Pacific from Eagle
Ford to Fort Worth, distance OF
twenty miles, with Major Frank S.
Bond, vice-pres.dent of the road, and
Major Washburn, the Ismented engineer
who was killed in an accident dur
ing the construction of the Missouri
Pacific from Fort Worth to Waco. The
basis of this contract was that the con-
struCtiOn company should build the road
and accept the paper of the Texas and
Pacific in payment for it-Cash was at
that time an article of which railroads, as
well as individuals, possessed but very
| little. The work of construction was
sublet to RICHIE Bros. & Tierney, the
former so well known in connection with
the FCrt Worth and New Orleans, and the
latter veteran railroad contractor, still
resident of Fort Worth. The road was
built over many obstacles. Money was
hard to obtain, and it is said that the
Wealthiest subscriber to the stock of the
construction company remarked that he
didn't know when he was going TO get
the money to pay for II. Numbers of the
subscribers forfeited their stock. Others
were permitted to pay their sub
sCriptiOns in wheat, oats, corn, etc,
which was turned over to the sub-con-
tractors. The capital was fixed at $780,
900, in 10000 shares of $40 each, but lot
exceeding $50, 200 was paid up in the ag-
gregate.
SIN addition to the stock subscription,
the citizens had to give the large land
subsidy Of 800 acres, now known as the
Texas and Pacific reservation, stretching
through the very heart of the city, and
which in the rapid accumulation of time
and figures may be valued at more than
$500, 900. This land was donated by K
NJ. VauZandt, E. NJ. Daggett, Mrs. E. A.
Hendricks and Judge T. J. Jennings, but
the land all became forfeited under the or
iginal contract and had to be donated over
again, 10 which action all the donors &C
ceded except the latter, and this interest
was purchased by q popular subscription
among the citizens amounting to $4,000.
Work on the contract was rapidly pushed
to completion, and just ten years ago to-
day this company had achieved it's object
and the first shrill notes of the iron horse
awoke the echoes OF the place which has
through an attempt at burlesque, been
named as the place where the panther
Lay Down."
"The extension of the road at this par
ticular time was fraught with much in
terest to the city, and it required nerve
and money to accomplish this end. The
contractc' were compelled 10 pay SO
per cent. of the work in cash, snd the
remaining 10 per cent. was settled
for with per cent. paper, similar to that
received from the railroad company. At
this time money was scarce and worth
per cent. per month on the very best Sc
curity. But the most remarkable thing
about this construction company remains
vet TO be told; in October, 1873, g meet
ing of the directors was held and its af-
fairs wound up, and all CT the stockhold-
ers who had subscribed were paid 132
cents on the dollar, showing a clear profit
of over 10 per cent. per annum on the
investment, besides making the town a
railroad terminus and sending real estate
values several hundred per cent. higher
than they were when the company was
organized.
To show the effect the Tarrant County
Construction Company had upon the
financial history of the city, the writer
will repeat remark made to him by Col
onel G. L. Frost of the Fort Worth and
Denver City Railway. Said he: "The old
Tarrant County Construction Company
was the first evidence of that unity
of purpose and action among the
leading men of Fort Worth, which has
been the cause of the City's wonderful
growth snd prosperity" a more enthu-
siastic lot of men never united in g COM
mon purpose, snd the result far exceeded
the eXpe Citations of the most sanguine of
their number. Two members of the di-
rectory of this company, f. NJ. Daggett
and John Hirshfield have since died, leay-
ing large estates behind them, and ali the
others are prosperous and influential citi-
zens in the city their efforts have so
largely contributed towards building up.
The company will always stand in the
of ono pf